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EIB renews to French bank loans

i2i funds film, TV projects of Natexis, Cofiloisirs

The European Investment Bank is renewing two loans of €20 million each ($22.6 million) to French banks, Natexis Coficine and Cofiloisirs, to co-finance the production and distribution of film and TV projects in France and other EU countries.

The funds were made available under the EIB’s “Innovation 2010 Initiative,” known as i2i, set up to help Europe’s audiovisual industry compete better on global markets. Since 2001, the EIB has advanced $642 million in loans to the TV and film industry as well as $134.2 million in equity participations by the European Investment Fund.

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